Biglaw

If you need it, build it. We needed help. And we saw an opportunity. So we took action, and now have another business as a result. I’ll explain. The need was simple. Because of our work with investors interested in understanding how patent litigation events impact on their investments, we found ourselves needing to monitor many active patent cases, in addition to the cases we were litigating ourselves. At one point, we considered hiring an intern to help with this specific task, at least during the trading day. But we quickly realized that solving this problem required a software-based solution. So we set out to build one. We looked for something available that would do the job, and failed to find anything useful.

Thanks in no small measure to the talent of our programmer, what we built worked. We were able to get automated alerts of new docket entries and opinions directly to our email. And we could do so for multiple cases, alleviating the concern that we would miss an important opinion. Because our clients tend to have sizable investments, there is a premium placed on our ability to let them know of litigation events quickly and to interpret those events for them, so that they could protect their positions or initiate new ones, based on the recently released publicly available information. As a fail-safe, we began having the alerts sent directly to subscribers of our consulting services. And now we have decided to offer it publicly (www.litigationalpha.com) to fellow lawyers, retail investors, and whoever else can benefit from automated alerts generated based off District Courts docket entries and opinions….

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Lawyers love detailed instructions and examples, even in their love lives. They want to know if they’ll be able to find a romance at their high-ranking law schools, and they’re obsessed with Legal Eagle Wedding Watches, if only as confirmation that some day they too will be happily married.

What these inquisitive lawyers all seem to forget, though, is that the prelude to the perfect marriage is the perfect engagement ring.

But how much should you be spending on one?

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I’ve never met you, but I assume that you’re incompetent.

I realize that sounds a bit harsh, but it’s time someone told you the truth.

Some people assume that strangers are competent. One of my colleagues in our Law Department said to me recently: “Outside counsel says we won’t have much liability in that case.”

I naturally asked, “Is he right?”

She was shocked: “He’s a partner at a well-respected firm. We hired him. I assume he’s competent.”

That got us to talking. My colleague gives strangers the benefit of the doubt; she assumes that people are competent until they prove otherwise. I’m exactly the opposite: When I meet you, my working assumption is that you’re inept. Over time, there’s a chance you’ll convince me that I’m wrong. (But probably not.)

Why do I assume that all new people I meet are incompetent?

No, that’s too easy. Here’s the better question: Why am I right to assume that everyone’s incompetent, and why is that a helpful way to go through life?

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The LSAT’s fate come August?

* NO, NO, NO, NOTORIOUS! Previously unpublished documents from the Clinton White House have been released, and it looks like Justice Ruth Bader Ginsburg was criticized for her “laconic” nature. Not cool, Bill. [Legal Times]

* Document review jobs aren’t going anywhere, folks. Exhibit A: Winston & Strawn’s e-discovery practice is bringing in the big bucks, earning the firm more than $20 million in revenue last year. [Capital Business / Washington Post]

* More lawyers are being treated for substance abuse for drugs and alcohol than ever before. In fact, a founding partner of Farella Braun + Martel, one of California’s largest firms, was once a “functioning alcoholic.” [Am Law Daily]

* A Florida jury apparently set on “sending a message” to tobacco companies awarded $23.6 billion in punitive damages to a chain smoker’s widow against RJ Reynolds. That was a costly message. [Reuters]

* June 2014 marked the fewest people who sat for the LSAT in 14 years, but it may get even lower if a new ABA proposal which would allow the test to be waived for 10% of students passes. [Central Florida Future]

* Dan Markel, FSU Law prof, criminal law theorist, and PrawfsBlawg founder, RIP. [Tallahassee Democrat]

We posed this question earlier today. The answer, according to a recent news report, is yes.

The past few months have been bumpy for Bingham. In February, we reported on falling profits, partner defections, and staff layoffs. In June, we covered additional partner departures. (By the way, the two “unidentified partners” who went to Skadden turned out to be tax partners Rajiv Madan and Christopher Bowers; they left Bingham due to a client conflict.)

In recent weeks, Bingham conducted a management shake-up. And now comes word that it might be looking for a merger partner.

Keep reading for our review of the reports, plus an internal email that just went around the firm commenting on the speculation….

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Hop in the DeLorean and travel back in time with us.

In our two most recent Flashback Friday posts, we looked at associate compensation in the 1990s. Today we’ll take a break from that topic and mix it up a bit. (We’ll return to cover associate comp in the remaining batch of legal markets at some point in the future.)

Last week we looked at associate pay in New York in the 1990s. Let’s stay in that city and that decade and examine another subject: NYC’s top law firms, circa 1991.

Some of these firms remain on top today. And some of them are six feet under….

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During a time when demand for legal services is flat, average revenue per lawyer is down, and managing partners’ overall confidence in the market is slipping, the proper keeping of time for all of those billable hours generated by toiling associates has never been more important. For better or worse, law firms are desperately trying to incentivize associates to submit their hours on time.

As we mentioned way back in 2010, “Time keeping is more accurate when you do it every day (as opposed to trying to recreate your days at the end of the week or month). Firms are struggling to collect from their clients. And, for what it’s worth, billing hours is part of the job for attorneys.”

Another part of an attorney’s job is the ability to follow rules. One Biglaw firm just rolled out a new time entry policy, and if its associates don’t follow these rules, they can expect some pretty negative consequences when bonus season comes around…

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The old ball and chain, dischargeable in bankruptcy only in the most limited of cases. Go ahead, try and prove you’ve got a ‘substantial hardship’ preventing you from paying. We dare you.

* Now that a federal judge has classified California’s death penalty as unconstitutional, it’s only a matter of time before the issue reaches the Supreme Court. We have a feeling the justices will likely roll their eyes. [National Law Journal]

* Word on the street is that Bingham McCutchen has got the urge to merge, and has apparently spoken to a handful of potential partners over the course of the past three months. We’ll have more on these developments later. [Reuters]

* As it turns out, it was neither Wachtell Lipton nor Jenner & Block that managed to snag the coveted GM litigation oversight job. Nice work, Quinn Emanuel — you’re considered a “well-respected outside law firm.” [WSJ Law Blog]

* Congrats, Flori-duh, you did something right. A state court judge has ruled that Florida’s ban on gay marriage violated the U.S. Constitution in the latest post-Windsor victory for equality. Yay! [Bloomberg]

* Thanks to their hundreds of thousands of dollars in law school debt, many graduates are considering declaring bankruptcy. Too bad most won’t be able to get their loans discharged. [Connecticut Law Tribune]

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.

As long as it has been around, the Am Law 200 list has been seen as what separates the best from the rest. It seems simple, transparent, and concise with each firm ranked in ascending order. However, many misconstrue Am Law ranks to mean overall value and assume that the firms at the top of the list are indubitably the best.

Some partners with books of business larger than War & Peace assume that the biggest firm will be the one with the best platform and financial flexibility to absorb their practice. In reality, many firms towards the middle of the Am Law 200 can better accommodate these lawyers (although many just as likely cannot).

When looking at the compensation average for partners, the gross profits of a firm are a relatively poor predictor compared to the other available metrics. Among the best indicators of firm health and the compensation is the profitability index…

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Danica McKellar

If you watched The Wonder Years when you were younger, Winnie Cooper was probably one of your first crushes. If you’re too young to remember that much about this television show, think of Topanga Lawrence from Boy Meets World. If you’re too young to remember that television show, then we’re dating ourselves, but sorry, but we can’t help you. Google it!

It seems that Danica McKellar, the actress who played Winnie Cooper many moons ago, is still a heartbreaker. Yesterday afternoon, she announced to the world that she was engaged to a very handsome Biglaw partner.

Who is he? Let’s find out…

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